Firebird Finance Decentralized Exchange Review

Firebird Finance is a DeFi service that boasts a one-stop solution for all your decentralized finance services. Users get access to a diverse range of products that are innovative, highly secure, and bring more returns from a single project. We could not find info on the company like its date of establishment, the location address, and other contact details. 

Firebird Finance overview

Some of the crucial features of this platform are:

• Hope is the native token of this DEX and the platform supports all ETH-based tokens and stablecoins. 
• The supported wallets include Metamask, WalletConnect, Coinbase Wallet, Ledger, and Trezor.
• Being an ETH-based platform, the DEX supports multiple chains like the Polygon (Matic), BSC (Binance Smart Chain), KuCoin Community Chain, Fantom Opera (FTM), and Avalanche (AVAX).
• The Faucet feature of the company ensures you can use the various ETH chains without paying a high transaction fee. You need to form a new address or buy a native token to begin in the new chains supported by the platform.
• With this characteristic, you can earn money when you refer a friend. A percentage of the farming rewards of your friend is given to you.
• A cross-chain profit system that applies to swappers, builders, and stakers is present. 40% of swap fees are converted to USDC for mHope stakers.  30% of the fees are converted to HOPE and sent to the creator of the pool. 30% of the swap fees are changed to HOPE and reach traders using the company’s swap.
• With this feature, the company allocates 30% of the swap fees which is converted to HOPE and given back to users having swap tokens. 

How does Firebird Finance work?

The platform allows for all the following:

1. Swap

Swap V2 is a combination of token trading and Oneswap. OneSwap is an interface for stablecoin trading on the platform. The combination of the two systems helps to reduce exchange rates, restrict the slippage.

2. Staking

For long-term staking and to be involved in the community you need to use the mHOPE which is the platform’s share token. It also helps you achieve a passive income from the profits generated by the ecosystem. 

3. Creating liquidity pool

Pools help you generate a passive income by providing liquidity to the swap platform. You can receive LP tokens in return for an equal share of tokens. The LP tokens denote the stake. You get paid whenever a different user does a token exchange. 

What can you buy on Firebird Finance?

This platform works on the ETH blockchain. It uses multiple ETH-based platforms including Polygon (Matic), BSC, Cronos, Avalanche C-Chain, Fantom Opera, IoTeX, Moonriver, and KuCoin Community chain.

The assets or tokens you can purchase here include:

• Buy mHope by locking HOPE in the governance platform. The duration of locking is from 1 to 4 years.
• You can receive Liquidity tokens in exchange for tokens of an equal ratio.
• LP tokens are locked to gain additional rewards.

Is Firebird Finance safe?

Other than the mention of the system being audited independently by Hicken, PeckShield, and Certik we could not find further info on the security measures used by the company.

Firebird Finance fees, compatible wallets, and transactions

The compatible wallets of the system are:

• Metamask
• Wallet Connect
• Coinbase
• Ledger
• Trezor

Fees

For the fees, the platform does not charge a fee for the withdrawal or deposit of the user’s asset. No info is present on the transaction fee the exchange charges.

What are the ways to trade on Firebird Finance?

Users who hold mHOPE can stake the tokens on the DEX in return for a percentage of the trading fees on the exchange. Nearly 75% of the fees are taken by the governance token holders. Here are the steps to trade using the Swap V2 platform:

1. Visit the official DEX site and connect your crypto wallet
2. Choose the tokens you want to swap 
3. The custom algorithm of the platform shows routing, savings, and preferential swap fees for users providing liquidity
4. Advanced users can use features like slippage tolerance, transaction deadline, etc.

Customer support

For support, the service provides an FAQ section. There are no other support methods available.

Should you trade with Firebird Finance?